For this footprint, I think that the EBITDA step functions that we are doing this year is only our fair for the long-term EBITDA as we originally committed. We feel very confident that even through this period of kind of a slow growth, we are still able to execute and double the EBITDA this year.
Micha Kaufman: Yes. And as for your second part of the question, I think as mentioned, our investment in the core marketplace, we’ve mentioned three ones which are €“ allow us to capture more of the existing trends that we’re seeing. One is the improved comparability, search and discovery, the differentiated experience, given the different types of services and engagement and retention. So improving costs and meet buyers where they are. On top of that, I would mention the continued push on go-to-market on Fiverr Business, which is leveraging the marketplace traffic and user base. There’s lots of work going on, on customer segmentation to identify high potential customers and build conversion tools around them. And we’re also building external partnerships to open up channels and build specific users with partners.
It’s a little bit early to talk about that, but something we’re able to talk probably more in the future, hopefully, in the second half of the year. So these will allow us to have investments side-by-side with cost discipline to continue pushing the business.
Doug Anmuth: Great, thank you both.
Operator: Thank you, Doug. We now have Jason Helfstein with Oppenheimer. You may proceed with your question.
Jason Helfstein: Thanks. Good morning. I guess two questions. One, just technically, can you just outline just how we should be thinking about the reduced expense growth. So how much specifically for marketing versus R&D versus G&A? Is there a way to kind of parse that? And then are you €“ do you think about marketing any differently now than you did in kind of pre-COVID in 2020? So is it the same playbook and just adjusting spending levels? Or are you doing things differently because you’re seeing different behavior for different services or different behavior from high spend buyers versus low spend buyers? Just some color there. Thank you.
Ofer Katz: Jason, on the first question, cost, the OpEx leverage is mostly on the S&M, sales and marketing, with some flavor from R&D and G&A, but it’s mostly about sales and marketing.
Micha Kaufman: Yes. And on the marketing, what I would say is, one, our marketing is very adaptive, meaning that on a regular basis, we check and test many strategies, depending on trends that we see in the market, sometimes it’s different categories depending on the time of the year. And sometimes it’s just the emergence of new categories. What we’re doing now is really maximizing or keeping the efficiency of our marketing if cost changes, if the overall top of funnel in terms of demand for freelancing is changing. What we’re doing is we’re diverting budgets between different channels is between brand marketing and performance marketing as needed. But I think that if you look at the overall cost or the time to return on investment on our marketing, you see that it keeps being extremely attractive and we’re able to maintain that despite the fact that the market is very, very different.
And we achieved that by being highly dynamic and employing a lot of marketing automation technology that we have developed throughout the years.
Operator: Thank you. Our next question comes from Bernie McTernan of Needham & Company. Please go ahead when you are ready.
